NLCE will be launching its first Community Share Offer in Spring 2023 to install, own and operate Solar Panels on the roofs of various schools and public buildings in North Lincolnshire.
When you apply for Shares in North Lincolnshire Community Energy Society Limited you become part of a plan to:
- Help schools manage their energy bills
- Create more homegrown energy
- Reduce carbon
- Increase economic activity in your local area.
It is expected that Members should receive interest on their investment at an annual rate of 4.5% from the financial year starting on 1 October 2023 (although in the first year the return will be linked to how long the Panels have been operating in the year). As new Projects are developed it is intended that this Share Offer will be reopened to raise funds to build them.
NLCE is a society for the benefit of the community that will create and manage community energy projects across North Lincolnshire (community energy refers to the delivery of renewable energy, energy demand reduction and energy supply projects led by communities). NLCE will be wholly owned by its members who invest in the share offer and will be led by a board of directors, a majority of whom are local residents of North Lincolnshire.
The share offer will be made in a series of tranches as new host buildings sign-up to the scheme. The initial phase of the project will be to install roof-top solar panels on schools in Scunthorpe with five of the first six sites already commissioned and generating electricity. We are working towards 30 schools and other community sites in the Scunthorpe area, with a view to extending into the wider North Lincolnshire area later on. The electricity is sold to each host building at a saving on the price they are currently paying. The Society is working in partnership with North Lincolnshire Council and is installing renewable energy on sites where it can have a positive impact on energy consumption.
North Lincolnshire Council has successfully bid for funding for Scunthorpe from the Towns Fund and has allocated £1.4 million of the grant received to support the delivery of solar arrays on Scunthorpe schools, delivering clean growth and carbon reduction in North Lincolnshire and major financial savings for schools. The grant is to be matched by funds raised under NLCE’s forthcoming share offer.
We want as many people as possible to join NLCE which is why the minimum investment is as low as we can make it at £50. Every Member, no matter how much they have subscribed, has an equal vote in the running of the Society. You can stand to be elected as a Director, or offer your time as a volunteer, to help the Society make its plan happen.
Parents and grandparents can apply for Shares now and hold them on behalf of their children and grandchildren; or can apply for Shares now and give them to their children and grandchildren in their will. Shares in NLCE are understood to be exempt from inheritance tax under present rules.
NLCE is supported and assisted by Energy4All Limited. NLCE is one of the family of thirty three community energy co-operatives that come together as Energy4All, demonstrating the power of co-operation in the renewables sector.
This offer will initially be exclusive to people in the DN8-DN10, DN14-DN21, DN37-DN41, and LN7 postcode districts.
Register your interest below to receive a copy of the share offer document when the offer launches. Applying for a copy of this document does not put you under any legal obligation to make an investment in NLCE.
The administration of the share offer will be done by Energy4All Limited and when the offer launches you will be redirected to their website at www.energy4all.co.uk.